The sports and entertainment agency representing Nelly Korda and Cam Smith — formerly Wasserman, rebranded earlier this year as THE·TEAM — is heading toward a full takeover.

Providence Equity Partners, which already owns around 60 percent of the agency, is reportedly close to buying the rest of THE · TEAM in a deal valued at roughly $3.4 billion.

They are reportedly purchasing former CEO Casey Wasserman’s share of the company. Wasserman stepped down earlier in the year amid his association with Jeffrey Epstein.

It set off a months-long auction.

According to Puck's Matt Belloni, who broke the story, roughly a dozen serious bidders were interested in the company, including United Talent Agency and private equity firms Permira and New Mountain Capital, with investment bank Moelis & Co. running the process.

But Wasserman held out for a high valuation, so every bidder dropped out. Meanwhile, Providence's dealmaker on the transaction, Davis Noell, began wondering why the firm would even want to bring in another partner to share control, given how much opportunity there currently is in sports, per Belloni's report.

So instead of selling down, Providence doubled down. Wasserman has reportedly agreed to the noncompete as part of his exit.

But nothing is signed yet. Sportico and Puck both report the deal is expected to close within weeks.

Meet THE · TEAM

The golf side of the business is strong. THE·TEAM’s golf roster includes Nelly Korda, Cam Smith, Jason Day, Rickie Fowler, Viktor Hovland and Tony Finau, among others.

Ryan Fox, the 2026 Open Championship winner at Royal Birkdale, is also on the agency’s books.

Sports is only half the business, though. The agency has been around for more than two decades and now employs approximately 4,000 people worldwide.

It also recently expanded in Europe. They bought the soccer division of a Danish talent representation firm called People in Sport. They also acquired Umik Sport Management. That company is based in Barcelona, Spain.

Other recent additions include Momentum Hockey, digital creator agency Long Haul Management, and Irish athlete management firm Line Up Sports.

It also committed to a music agency, a lucrative marketing unit, and the Brillstein talent management firm that reps Brad Pitt and Sydney Sweeney.

If a deal is finalized, it will be a big win for Providence after they failed to acquire rival agency Excel Sports Management last year. Goldman Sachs purchased that back then.

However, what the buyout means for Korda, Smith, or any other individual athlete representation is still unconfirmed.

Read more at Club Golf!

Written by

Md Saife Fida